This paper provides an empirical analysis of how the frequency and severity of terrorism affectgovernment revenue and expenditure during the period 1970-2013 using a panel dataset on153 countries. We find that terrorism has only a marginal negative effect on tax revenueperformance, after...

Fiscal consolidation has become an important policy prescription for many emerging market countries (EMCs), particularly for the highly indebted ones. Although prudent fiscal policies tend to reduce vulnerabilities, their implementation is usually postponed. This paper represents, to the best of...

This paper examines the impact of deflation on fiscal aggregates. With deflation relatively rare in modern history, it relies mostly on the historical records, using a dataset panel covering 150 years and 21 advanced economies. Empirical evidence shows that deflation affects public finances...